Magic Charitable Foundation
- Assets
- $860.4k
- Revenue
- $36.7k
- Investments
- $844.8k
- Employees
- 0
- Location
- Mettawa, IL
- Founding
- 06/2013
- Data as of
- 12/2022
- EIN
- 27-4375952
Organization Overview
Magic Charitable Foundation is located in Mettawa, IL. The organization was established in 2013. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Magic Charitable Foundation generated $36.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $173.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Magic Charitable Foundation has awarded 35 individual grants totaling $372,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Nicholas President | 0 | $0 | |
Michael J Nicholas Treasurer | 0 | $0 | |
Erin L Trella Director | 0 | $0 | |
Kelly C Luby Director | 0 | $0 | |
David M Nicholas Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15 |
| Interest on Savings | $0 |
| Dividends & Interest | $21,221 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $15,507 |
| Capital Gain Net Income | $19,996 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $36,743 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,077 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $15,571 |
| Contributions, gifts, grants paid | $158,000 |
| Total expenses and disbursements | $173,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,548 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $860,355 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Magic Charitable Foundation has awarded $158,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: TO ADVANCE CURES, AND MEANS OF PREVENTION, FOR PEDIATRIC CATASTROPHIC DISEASES THROUGH RESEARCH AND TREATMENT. | $20,000 |
Coon Rapids, MN PURPOSE: TO FEED STARVING CHILDREN IN BODY AND SPIRIT AND TO WORK TOGETHER WITH ORGANIZATIONS AND MINISTRIES ACROSS THE GLOBE TO END HUNGER. | $20,000 |
THE LES TURNER ALS FOUNDATION PURPOSE: TO PROVIDE THE MOST COMPREHENSIVE CARE AND SUPPORT TO PEOPLE LIVING WITH ALS AND THEIR FAMILIES AND TO ADVANCE SCIENTIFIC RESEARCH FOR THE PREVENTION, TREATMENT AND CURE OF ALS. | $20,000 |
US FUND FOR UNICEF DBA UNICEF USA PURPOSE: TO SAVE AND IMPROVE CHILDREN'S LIVES AND TO ADVANCE AND PROTECT CHILD RIGHTS AND TO PROVIDE HEALTH CARE, IMMUNIZATIONS, NUTRITION, ACCESS TO SAFE WATER AND SANITATION SERVICES, EDUCATION, PROTECTION AND EMERGENCY RELIEF. | $20,000 |
ANN ROBERT H LURIE CHILDREN'S HOSPI PURPOSE: TO DELIVER EXCEPTIONAL, KID-FRIENDLY CARE TO EVERY CHILD WHO NEEDS IT AND TO BUILD SAFER SPACES WHERE CHILDREN CAN GROW UP AND THRIVE. | $20,000 |
Atlanta, GA PURPOSE: TO BRING PEOPLE TOGETHER TO BUILD HOMES, COMMUNITIES AND HOPE THROUGH DECENT AND AFFORDABLE HOUSING. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joyce Foundation Chicago, IL | $1,408,794,882 | $150,496,278 |
Lynde And Harry Bradley Foundation Inc Milwaukee, WI | $1,061,478,184 | $82,867,746 |
Brown-Forman Foundation Louisville, KY | $0 | $24,207,060 |
Exelon Foundation Chicago, IL | $116,558,021 | $16,716,086 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
Ascension Providence Foundation St Louis, MO | $25,786,185 | $4,059,548 |
Kehe Cares Foundation Inc Naperville, IL | $5,804,063 | $7,449,461 |
G Carl Ball Family Foundation West Chicago, IL | $40,772,718 | $1,501,347 |
Apex Oil Company Charitable Foundation Clayton, MO | $5,552,503 | $420,890 |
Telligen Community Initiative West Des Moines, IA | $44,005,034 | $3,901,747 |
Northern Trust Foundation Chicago, IL | $8,176,518 | $7,000,250 |